Regarding the Haiti and Liberia agreements, Peterson falsely certifies to the SEC that he holds $17,590,837 in short-term accounts receivable. The implications of the false reporting causes the SEC to suspend trading of RVPlus stock. The predicate for the SEC’s decision is based on the inaccuracy of RVPlus’ periodic financial filings. This includes accounts receivable, assets, and operations.
Embellishment Run Wild
Peterson also claims that ECCO2 Corp., a not-for-profit he owns, is an “affiliate organization” of the U.N. Convention on Climate Change. Peterson claims that the “status held with the sectors of the United Nations opens many windows of opportunity to over $100 billion in financial aid to fund ECCO2 projects.” For context, however, it is important to note ECCO2 is not an affiliate of the U.N. Convention on Climate Change. In fact, the U.N. scolds Peterson on two separate occasions demanding that ECCO2 stop claiming it’s affiliation.
With regard to the false certification counts, each charge carries a maximum potential penalty of 10 years in prison and a $1 million fine. The securities fraud count carries a maximum penalty of 20 years in prison and $5 million fine.
